Hello friends, how are you all?? wishing you all happy and prosperous life ahead.
Wouldn't you be surprised to hear that the demand for silver is high but still why is its price low in comparison to gold? If we talk about rates, the rate of gold is Rs 7500 per gram and that of silver is Rs 870 per gram.If we look at the difference in price, it is too high, Gold is about 85% more expensive than silver. As silver is cheap, it appeals more to people to wear silver jewelery which looks exactly like gold,silver is a very option in which everyone can invest.
If we compare the below-ground stock of gold and silver reserves, there is around 50,000 tonnes of the yellow metal still available to be mined against 5,30,000 tonnes of silver.
As per the data,Silver reserve and usages, is still 10 times higher than gold Reserves, the demand of silver in industrial purposes is much higher than yellow metal Gold.
In India, gold is considered a very good asset and investment and where people believe more in buying gold, Every year the price of gold is becoming high in comparison to the previous year. But according to the Silver Institute, silver will be more expensive than gold in the coming time,as the demand for silver is increasing,due to its massive use in modern technologies and the severe imbalance between industrial consumption and mining output when we talk about gold and silver metal, only jewelery comes to our mind,Due to silver metals unique Properties it's demand is increasing in industrial purpose, even It is used in new technology making like solar Panel,electronics, Mobile phones and other things. So the demand of silver is increasing more than gold so the probability spike of silver price is high.
Silver has unique properties, most of the gems and stone rings are also made in silver,And it is said that silver keeps the mind cool and if one gets angry then wearing a silver ring reduces the anger, as so many such type of believes given by astrologer. Nowadays there is viral reel on Instagram that if you make wear a silver chain for your children then they will become intelligent, increase patience level. Silver has the property of changing its color, such that even if you even, it will turn blue, which means that the amount of sodium in your body is high, you should immediately cut salt from Diet. Due to all of these reasons, the demand of silver is increasing, which will definitely spike it' price too.
Investing in gold is a great idea if you keep your portfolio diversified then it will give you more returns,My own opinion is that if you want to invest in gold then invest in 24 karat,There are making charges in jewelery and when you go to sell later, it is almost 20 to 30% will be dedicated.But yes, silver is going to compete with gold. Because nowadays silver jewelery is becoming more famous and traded,Since silver jewelery is made exactly like gold, then why do people spend so much money to buy gold jewellery?
Thankyou for stopping by
@gargi
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